Trump’s New Shockwave for India: 25% Tariff Followed by Ban on 6 Major Indian Companies
New Delhi (The Uttam Hindu): In a move sending shockwaves across global trade circles, former U.S. President Donald Trump has once again trained his sights on India. On Wednesday, Trump announced a steep 25% tariff on Indian goods. But that wasn’t all—he followed it up with a harsh blow: a direct ban on six Indian companies allegedly involved in trade with Iran.
According to the U.S. State Department, these companies have been penalized under Executive Order 13846 for purchasing and distributing Iranian petroleum products, a direct violation of U.S. sanctions against Iran’s petrochemical sector. Trump emphasized that any nation or business choosing to engage with Iran’s oil industry will face severe consequences and be barred from U.S. trade relations.
The targeted companies include:
Kanchan Polymers, accused of importing over $1.3 million worth of Iranian petrochemicals through a UAE-based trading firm.
Alchemical Solutions, which allegedly traded more than $84 million worth of Iranian-origin products in 2024 alone.
Ramniklal S. Gosalia & Co., involved in buying over $22 million worth of banned goods like methanol and toluene.
Jupiter Dye Chem Pvt. Ltd., facing allegations for importing more than $49 million in petrochemical goods.
Global Industrial Chemicals Ltd. and Persistent Petrochem Pvt. Ltd., both said to be involved in high-volume dealings worth $51 million and $14 million respectively.
This development has sparked concern among Indian business circles and raised questions about future Indo-US trade relations under Trump’s continued aggressive policies.